The Petroleum Safety Authority Norway announces Lundin has received consent for exploration drilling in block 8/5

Wednesday, Dec 26, 2012

Lundin Norway AS (Lundin) has received consent to drill exploration well 8/5-1 in the southern part of the North Sea. The well will be drilled with the Mærsk Guardian mobile facility.

The Petroleum Safety Authority Norway (PSA) has granted Lundin consent to carry out exploration drilling of well 8/5-1. The objective of the drilling is to investigate the potential in a prospect in production licence 453S, where Lundin is the operator.

The plan is to start drilling on 13 January 2013, and this will last for at least 54 days. If any discoveries are made in the well, a production test will be carried out, and the overall duration of the activity could be up to 108 days.

The geographic coordinates of the well will be:

57° 33’ 43.83” N03° 34’ 49.67” E

The drilling location is approx. 165 km SW of Egersund. Water depth at the site is 72 metres.

The well will be drilled with the Mærsk Guardian jack-up drilling facility (photo). The facility was built in 1986 at Hitachi Zosen in Japan. Maersk Guardian is owned by Maersk Drilling and operated by Maersk Drilling Norge AS' headquarters in Stavanger. The facility is registered in Singapore and classified with Lloyds. It received an Acknowledgement of Compliance from the PSA in November 2002.